Music industry revenue takes a plunge
News: 5th August 2011 by Louise Dodgson under Finance, Law & Music Business, Live, Music Publishing, Record Labels
The music industry has suffered a blow in terms of revenue as the PRS For Music has reported a drop of £189 million for 2010. Ouch! Of course, the usual reasons of piracy and reduction in CD sales have been cited however, it would seem the root of the problem may lie in the fact that not as many of the bigger scale artists toured in 2010 which has had a huge effect on the money rolling into the UK industry.
The sell out stadium tours and one-off massive single sellers such as Susan Boyle do have a massive effect on the overall revenue generated for the music business and that seems to be where things have fallen short so far last year. Take That's sell-out UK tour should hopefully help bring the figures back up for 2011, thanks guys!
Related Links
http://www.bbc.co.uk/news/entertainment-arts-14402257
http://www.guardian.co.uk/media/2011/aug/04/uk-music-industry-revenue-falls
http://www.prsformusic.com/creators/news/research/Pages/default.aspx
Tags
prs for music, music industry, music sales, record sales, music business, music revenue
